Dollar/Yen gains 148 pips to erase previous losses, trading higher at 110.55 after 2 months low .
A good end to the trading week, USD/JPY is up to 110.55 having started the week at 109.87, overall a 0.63% move or 68 pips this week. (Trade Dollar/Yen with FXTM now).
This move comes while some more positive signs for Dollar/Yen are out as United States Existing Home Sales released earlier shows an improvement to 5.86 million from the preceding data of 5.78 million, but falls short of the projected 5.90 million. United States Initial Jobless Claims published yesterday at 12:30 PM came out at 419,000, falling short of the 350,000 projections and continuing its decline from the previous 368,000 figure.
On the flip side data for United States Crude Oil Inventories released Wednesday comes out at 2.11 million, beating projections of -4.47 million and showing improvement over the preceding figure of -7.90 million.
More data out yesterday as Released today at 7:30 PM, Japan's CFTC JPY speculative net positions showed an uptick coming in at -55,700, up from the previous number of -56,300. Japan Balance of Trade released earlier shows an improvement to 383.20 billion from the preceding data of -189.40 billion, but falls short of the projected 460.00 billion.
While Dollar/Yen is green so far today, these assets are not doing so well- at 148.44, Pound/Yen is down to its lowest value in 5 months and a half. Euro/Yen dropped to 128.57, hitting a 4 months low.
Outlook for rest of the week: Market is looking forward for Japan Retail Sales projected to decline to 0.2% while previous data was 8.3%, data will be released Thursday.